Organized thought;

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THE idea that certified public account­ants
need to have an interest in ac­counting
as the chief instrument which
they employ in their work is not prompted
by sentiment alone. A desire for economic
survival and preeminence, whether secretly
cherished or openly admitted, probably
is the principal motive. Whatever the
motive, the idea will avail little unless it
is put to work.
Accounting theory and practice, like the
accountancy profession, has evolved with­out
much guidance, or organized planning.
Too often those who have pondered the
subject of accounting and formulated its
theory have not been entirely familiar with
the practical side. Those engaged in
practice have had little time, or use, for
theory. Sporadic efforts to correlate
theory and practice have not been note­worthy
in the results achieved.
There is a medium, however, through
which combined force may be applied in
putting into practice the idea of developing
accounting. That medium is the pro­fessional
society.
The assertion that every accountant in
the professional field should be a certified
public accountant scarcely can be chal­lenged.
If the greatest good is to be
accomplished by organized effort, it does
not seem too severe or arbitrary to suggest
that every certified public accountant
should be a member of a state society.
The state societies, through their tech­nical
committees and technicals sessions,
constitute a means whereby accountants
may manifest their interest in accounting.
Further, these societies offer an oppor­tunity
for research, for thought, for dis­cussion,
for education, and for concerted
action in matters relating to accounting
and accountancy.
Individual thought, even that of a
genius, does little good unless it is com­municated.
Individual effort makes little
progress unless it is combined with that of
others. A good idea gains momentum
only as it is seized and passed along by
one group to others of larger proportions.
Accounting principles, in order to stand up
against practical contact with other forces
whose representatives have different points
of view and modes of thought, need the
united support of the accountancy pro­fession.
Perhaps no better words to express the
situation can be found than those in which
an analogy was stated recently by Mr.
Charles W. Appleton, vice-president of the
General Electric Company, before the
44th Annual Meeting of the Association of
Edison Illuminating Company, in an ad­dress
on "Our Mutual Interests in Re­search
Engineering," to wit:
"But nature so endowed man that he
might be able to cope with and overcome
the onslaught of all the other forces hidden
in its bosom, and of all its gifts, the greatest
was the God-given faculty of organization,
association, and cooperation with his
fellows."
Organized Thought
ATLANTA
BALTIMORE
BIRMINGHAM
BOSTON
BUFFALO
CHARLOTTE
CHICAGO
CINCINNATI
CLEVELAND
DALLAS
DENVER
DETROIT
JACKSONVILLE
KANSAS CITY
LOS ANGELES
MINNEAPOLIS
NEWARK
NEW ORLEANS
NEW YORK
PHILADELPHIA
PITTSBURGH
VOL. XII
HASKINS & SELLS
CERTIFIED PUBLIC ACCOUNTANTS
BULLETIN EXECUTIVE OFFICES
16 BROAD STREET, NEW YORK
NEW YORK, JANUARY, 1929
PORTLAND
PROVIDENCE
SAINT LOUIS
SALT LAKE CITY
SAN DIEGO
SAN FRANCISCO
SEATTLE
TULSA
WATERTOWN
BERLIN
LONDON
MANILA
PARIS
SHANGHAI
HAVANA
MEXICO CITY
MONTREAL
No. 1